Assessor News

Assessor Property Record information is now available online.

• Search by owner name, site address or parcel indentification number

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Franklin County Real Estate Website

Franklin County Assessor's Office Releases Sales & Assessment Information

Commercial & Industrial classifications of real estate:  The Franklin County Assessor’s Office has completed the 2009 Commercial and Industrial property revaluation project.  During this two year project, research was conducted on sales information, cost data, and field inspections.  All values were established according to assessment appraisal guidelines and the Code of Iowa.  Assessment notices will soon be mailed to each property owner.  Some of these properties will see their assessed values increased, and some will see their assessed values decreased.  The assessed value is to represent the market value of the property.  A property owner can meet with the project appraiser if they feel the value does not represent fair market value.  Property owners who feel the assessed value does not represent market value should be prepared to state their estimate of market value and present evidence to support that estimate such as sales, current costs, or a recent appraisal by an Iowa Certified Appraiser.  If the property owner is not satisfied with the project appraiser’s value, they will also have an opportunity to protest the assessed value to the Franklin County Board of Review at a later date.

Residential classification of real estate:  Sales studies have been conducted on residential properties to determine assessment levels.  The following sales data from Franklin County indicates that the number of sales is down, but the average price paid per sale is up.

FRANKLIN COUNTY URBAN RESIDENTIAL SALES

Agricultural Classification of Real Estate:  The 2009 agricultural land and building assessments will increase 47% in Franklin County due to increasing crop yields and prices.  The average increase for all counties in the state of Iowa is 48%.  Iowa agricultural land and buildings are assessed on productivity and not market value.  The productivity formula is based on a five year average of commodity yields, crop prices, and expenses.  The years included in the current formula are 2003 though 2007.   (Floods may impact the productivity formula when the year of the flood is included in the formula.)  The increase in assessment will be mitigated by the limitation of statewide taxable growth of 4%.  This is accomplished by reducing the assessed value by a factor determined by the Department of Revenue known as a rollback.  The projected rollback on the 2009 assessment for agricultural land and buildings is about 65%.

The assessor will notify property owners of a value change to their property by mailing them an assessment roll in the coming month.

View Comparison & Estimate of Agricultural Values from 2008 to 2009

Homestead & Military Applications

• July 1st is the deadline for filing for these exemptions.
• Anyone who has moved to or built a new home as their primary residence should file for the Homestead Application.
• There are requirements for persons applying for the Military Exemption.  Please see that page of the website to see if you qualify.